Idaho news. (Blackfoot, Idaho) 1887-1891, 1887-11-26
The Significance Of The Boom.

In speaking of the affairs of the
country under the present administra-
ton, the New York Herald says the
whole country is in a very prosperous
condition just now and the topic of
conversation everywhere is the boom.
It is ubiquitous q hundred places
at the same time.
A careful perusal of our exchanges
shows that this boom has found its
way into every nook and corner. 1t
is in the South, Southwest and West.
The old sectional disagreements and
issues are buried under the rapidly in
creasing enterprise which is making
us in its strongest sense united peo-
pie. Northern capital is finding in
vestment in southern projects. The
far West is so rich in mines, in farm
ing and grazing lands that steady
stream of immigrants from the over
crowded nations of Europe is pouring
in that direction. Beyond the Rock
les even, on the Pacific slope, there is
something resembling craze, and
fabulous prices are demanded for town
lots before the town itself has made
its appearance.
All right. Where it has basis it
will produce results; where it has no
basis it will burst A good many will
make money and a good many, will,
when the pinch comes, will lose it.
The country will not be hurt, howev-
er. When an enterprise fails some
individuals win drop there cash there
and when a man pays fancy prices for
fancy land he will naturally get left.
Concerning such matters each indi-
vidual must look out for himself and
if his venture empties his pocketbook,
why, that is unfortunate, but the cash
he loses some one else picks up, and
the world goes on in the same old
way.
1t is little difficult for the ordina-
ry. reader to comprehend the facts on
which this boom is founded We have
undeveloped coal fields in the South
and West, for example, capable of
supplying the inhabitants of the earth
for centuries. Possibly with the ex-
ception of Minnesota, coal may be
mined in every State and Territory
living on the other side of the Missis-
sippi. Iron ore in inexhaustible ex-
tent is found throughout the South,
including Florida, Texas and in every
State west of the big river without ex-
ception. The best Swedish metal is
no better than that which Oregon pro-
duces. Lead, gold, copper, silver,
granite, and marble are hidden away
in such quantities that when we say
that in Missouri alone the lead alone
covers 5000 square miles, and that
the Colorado river in Texas has cut
its way through solid mountains OF
marble, and that the Iron Noun.
tain and Pilot Knob contain 500, 900
900 tons of good marketable ore, We
may excite surprise, but we have only
touched on some of the most insight
cant facts of the case. The whole
sixty millions of our population coult
be put in the single State of Texas
; and it would not be as crowded a!
Germany is to-day, and if we we're t.
build a Chinese wall about the Repub
lie and refuse admission to foreigl
goods we could have all the comfort
and luxuries of life and ask no favor
, of any one. In such case, however
the rest of the world would have
: hard time, for it depends on this cour
try for many of the necessariss of life
We can live in abundance withou
: others, but they would find it yer
difficult to get on without our crop:
y cattle and thousand other things.
+ The boom then will take care of i
self. 1t comes from the popular col
seriousness that neither this gener;
ton nor dozen generations to com
can reach the end of our material r,
sources. When commercial enterpris
0 loses its head that goes too far, rea,
8 ton comes and somebody is sure I
n get hurt. Still, the wheat fields, til
herds of cattle, the railroad system
e and the mines are all there, and thei
h they will remain, whether their pre-
L ent owners make fortunes or lose 70
tunes individuals and corporation
e may sink out of sight, but the coul
try and its treasures are unchange'
y When man is going through I'll
}. rapids of the st. Lawrence he wants
d level head and steady hand at ii
re helm. When a nation is passin
lie through period like this, unlike thi
of any other nation on the globe,
e. period of commercial bewildermen
of unequaled prosperity and promis
b it is needful that the administratic
s should be cool, conservative and Ion
e headed, endowed not with the brillia
e cy which involves us in foreign e
tanglements for the sake of shown
$ how strong we are, but with that con
G mon sense and caution which will NJ
d interfere with the people when the
are prosperous and contented.
This is worth thinking about.